Millennium Management LLC Acquires 94,997 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Millennium Management LLC lifted its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,304,725 shares of the financial services provider’s stock after acquiring an additional 94,997 shares during the period. Millennium Management LLC owned 0.79% of OUTFRONT Media worth $18,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OUT. National Bank of Canada FI purchased a new stake in shares of OUTFRONT Media in the second quarter valued at $28,000. Riverview Trust Co bought a new stake in OUTFRONT Media in the first quarter worth about $33,000. Quest Partners LLC lifted its stake in OUTFRONT Media by 30.0% in the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 994 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of OUTFRONT Media by 105.2% during the first quarter. GAMMA Investing LLC now owns 3,849 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,973 shares during the period. Finally, M&G Plc bought a new position in shares of OUTFRONT Media during the second quarter valued at approximately $152,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OUT shares. Wells Fargo & Company assumed coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price objective for the company. Barrington Research raised their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. TD Cowen started coverage on shares of OUTFRONT Media in a report on Tuesday, July 16th. They set a “hold” rating and a $16.00 price objective for the company. StockNews.com upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

OUTFRONT Media Trading Up 1.5 %

NYSE OUT opened at $18.10 on Friday. The company’s 50-day simple moving average is $16.68 and its two-hundred day simple moving average is $15.62. OUTFRONT Media Inc. has a one year low of $8.18 and a one year high of $18.89. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -6.80, a price-to-earnings-growth ratio of 1.21 and a beta of 1.94. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.67 and a current ratio of 0.67.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.60. The company had revenue of $477.30 million during the quarter, compared to the consensus estimate of $482.27 million. OUTFRONT Media had a net margin of 12.32% and a return on equity of 37.83%. OUTFRONT Media’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Equities analysts forecast that OUTFRONT Media Inc. will post 1.53 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend was Friday, September 6th. OUTFRONT Media’s payout ratio is currently -45.11%.

OUTFRONT Media Profile

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.